13963 NE 3rd Ct Unit D2 · Golden Glades, FL 33161

$154,900

2 bd · 1.0 ba · 862 sqft · Condo public records · 10 Days on market

Built 1978 $426/mo HOA · 11% of rent

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Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to Orchard Gardens Condominium! This charming 2-bedroom, 1-bathroom first-floor unit offers comfort, convenience, and modern updates. Well maintained throughout, the home features an updated kitchen and bathroom, attractive laminate flooring for easy upkeep, and the added convenience of an in-unit washer and dryer. The functional layout provides comfortable living spaces filled with natural light, making it an excellent opportunity for homeowners and investors alike. Conveniently located near shopping, dining, major roadways, and everyday amenities. Don't miss your chance to own this move-in-ready gem—schedule your private showing today!

Key facts

• Updated kitchen
• Conveniently located
• $426 HOA

Tags

• UPDATED KITCHEN
• IN-UNIT WASHER AND DRYER
• ATTRACTIVE LAMINATE FLOORING
• COMFORTABLE LIVING SPACES
• CONVENIENTLY LOCATED

Property features AI

Finance

• Other: Annual tax information available
• Financial info: Pets allowed with restrictions or possible restrictions (conditional)
• HOA & community: Monthly association fee of $426; HOA covers grounds maintenance, structure maintenance, and water

Exterior

• Parking: Guest parking available; One assigned parking space
• Utilities: Water service included in association fee
• Home design: Single-story; Entry level 1; Faces south; Resale property
• Construction: Block construction
• Exterior features: Patio; Property has attached neighbors

Interior

• Kitchen: Electric range; Microwave; Refrigerator
• Bedrooms: Primary bedroom on the main level
• Flooring: Laminate; Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Blinds; First floor entry; Living/dining room; Main-level primary; Bedroom on main level
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $155k.

Deal economics

• At list price, monthly cash flow is $971 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $155k).
• Cap rate 17.1% vs local median 3.6% in Golden Glades — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 74/100 on livability (#281 in FL, #4,513 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing B+, health & safety B+; Watch: employment D, amenities F.
• Miami-Dade (suburban): math 45% / reading 54% proficiency, ranked #40 of 73 in FL (top 55%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Linda Lentin K-8 Center (math 27% / reading 36%, grade F, #1,841 of 2,144 statewide, top 86%, 674 students, 76% FRL); North Miami Middle School (math 25% / reading 31%, grade F, #486 of 571 statewide, top 86%, 807 students, 71% FRL); North Miami Beach Senior High (math 13% / reading 24%, grade F, #568 of 667 statewide, top 85%, 1,149 students, 66% FRL).
• Zoned-school proficiency averages 26% at this address vs 50% district-wide (-24 pts) — the specific schools serving this property underperform the Miami-Dade average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-0.7%/yr); 340 active listings in the ZIP; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Miami-Dade County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $43k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 8y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $60k; list at $155k implies a 158% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $154,900

Questions for the listing agent

1. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 2.39% ✓
• Cap rate: 17.12%
• Cash-on-cash: 38.66%
• DSCR: 2.72
• GRM: 3.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 16.0%
• Equity multiple: 1.61×
• Total profit: $26,469
• Equity at exit: $23,096

10-year hold

• IRR: 21.3%
• Equity multiple: 2.46×
• Total profit: $63,134
• Equity at exit: $13,393

Cash invested: $43,372 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Florida: 87 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; preempts local rent control; landlord-friendly statutes. Court speed varies by county.

Methodology + full state rankings →

ZIP-level market 33161

• Rents YoY: -0.7%
• Active inventory: 340
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $3,706 medium
• Mortgage (P&I): −$812
• Tax from tax record: −$227 /mo · $2,727/yr
• Insurance: −$65
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$426
• Vacancy / Maint / Mgmt: −$778
• Net cashflow: $971

Break-even live

Break-even rent $2,477

Max offer price $154,900

Occupancy floor 69%

Sensitivity live

Price	-10% $1,058	-5% $1,015	+0% $971	+5% $927	+10% $883
Rent	-10% $678	-5% $824	+0% $971	+5% $1,117	+10% $1,264
Rate	-1.0pp $1,049	-0.5pp $1,010	base $971	+0.5pp $931	+1.0pp $890

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $38,725
• Closing costs: $4,647
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $426 · $5,112/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 7 events

1. 2026-06-21
   days on market $154,900 Active 10 DOM
2. 2026-06-18
   days on market $154,900 Active 7 DOM
3. 2026-06-17
   days on market $154,900 Active 6 DOM
4. 2026-06-16
   days on market $154,900 Active 5 DOM
5. 2026-06-15
   days on market $154,900 Active 4 DOM
6. 2026-06-13
   remarks 653-char remark
7. 2026-06-13
   listed $154,900 Active 2 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast FL · Resets to sale price

• Current annual tax: $2,727 · $227/mo
• Projected year-2 tax: $2,727 · $227/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone AE · 26% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥104°F today · 29 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $44,467
• − Mortgage interest: −$8,677
• − Property taxes: −$2,727
• − Insurance: −$5,893
• − Repairs & maintenance: −$3,557
• − Management: −$3,557
• − HOA: −$5,112
• − Depreciation: −$4,506
• Taxable income: $10,437
• Est. tax owed @ 24.0%: −$2,505
• After-tax cash flow: $9,144/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Miami-Dade
• NCES district ID: 1200390
• Math proficiency: 45% ▼ -16.00%
• Reading proficiency: 54% ▼ -5.00%
• Median HH income: $43,928
• Composite: 41.76/100
• National rank: #3397
• State rank: #40 of 73 in FL

Livability — Golden Glades

• Score: 74/100
• State rank: #281
• US rank: #4513

Category grades

Amenities F Commute A+ Cost of living B Crime B Employment D Housing B+ Health & safety B+ User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Golden Glades, FL
• County: Miami-Dade County · 2,697,751 people
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 54,814
• Household income: $58,325
• Rent vs Own: 56.0% rent · 44.0% own
• Severe rent burden: 3226.0

Population outlook (Miami-Dade County) Hauer SSP2

• Today (2025): 3,126,439 people
• By 2030: 3,325,765 · +6.4%
• By 2040: 3,697,561 · +18.3%
• By 2050: 4,012,134 · +28.3%
• By 2075: 4,605,612 · +47.3%
• By 2100: 4,866,598 · +55.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: Black 56% Hispanic / Latino 31% Two or more races 18% White 8% Asian 2%
• Hispanic origin (detail): Puerto Rican 4% Cuban 7% Dominican 4% Salvadoran 1%
• Common ancestry: Hispanic 35% Estonian 1% Lithuanian 1%
• Foreign-born: 51% · Canada, Jamaica, Dominican Republic
• Languages at home: 25% English-only · French/Haitian/Cajun 41% Spanish 30% Other Indo-European 2%

Political lean MEDSL · Miami-Dade

• 2024 margin: R (+11.4) · D 43.9% · R 55.4%
• 2008→2024 swing: -27.6pp toward R · 2008: 16.1pp · 2024: -11.4pp
• All cycles: 2024: R+11.4 2020: D+7.3 2016: D+29.6 2012: D+23.7 2008: D+16.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -492.86%
• Current HPI: 630.6932
• Rent YoY: ▼ -0.73%
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

Industry mix (Fortune 500 HQ in FL)

Industry	F500 HQs	Revenue
▸Industrial Technology	2	$29B
▸Insurance	2	$17B
▸Retail	1	$60B
▸Technology Distribution	1	$58B
▸Homebuilding	1	$35B
▸Technology Manufacturing	1	$35B

Price history

+240.4% since first listed

13 events — show timeline

• 2026-06-11 Listed $154,900 MARMLS
• 2019-04-15 Listing Removed — MARMLS
• 2019-02-11 Price Changed $125,000 MARMLS
• 2019-01-28 Price Changed $129,900 MARMLS
• 2019-01-09 Price Changed $135,000 MARMLS
• 2018-12-13 Listed $139,900 MARMLS
• 2018-10-25 Sold (Public Records) $72,000 Public Records
• 2018-10-25 Sold (Public Records) $60,000 Public Records
• 2018-10-12 Sold (Public Records) $50,000 Public Records
• 2004-10-25 Sold (Public Records) $80,000 Public Records
• 2002-03-11 Sold (Public Records) $53,000 Public Records
• 1985-08-01 Sold (Public Records) $46,500 Public Records
• 1981-07-01 Sold (Public Records) $45,500 Public Records

Property tax history

+5.9%/yr

Latest (2025): $2,727 · +4.1% YoY. Source: county tax records.